b-LOG: July – When Sellers Become Buyers
Quite often this time of year, a decent part of the market loosens up (or has loosened up already). As more homes sell, more offers are made and less “conditional on the buyer’s property” offers are made. The result is accelerated schedules, more competition, reduced days on market numbers and quite often, less stress. Of course, less stress, depending on who you are talking to.
The thing to remember this time of year is that as a buyer or seller, you quite often need to adjust the way you play the real estate game of chess. In the early spring market, offers conditional on the sale of a buyer’s property are far more common. Expected almost. June and July are historically the highest (if not the) months for total volume.
As a buyer you are in a much stronger position if you either have your conditional offer already in place or are able to offer with limited conditions.
As a seller, perhaps this is the time of year where offers conditional on the sale of the buyer’s property are less desirable. It really comes down to what you are selling as well as what the buyer has to offer. One thing to remember about June and July is that they lead to August which can become a tad slower. By “tad”, we mean substantially. That is really when a well thought out, organized plan is required.
When people talk about “the real estate market”, it really is a totally inadequate expression. There are two huge variables to consider with any real estate market.
TIME and LOCATION
When are you selling or buying? Where is it the property located? Both of those factors will have a major impact on the situation. One thing to know for sure: this time of year often requires a different approach when compared to 90 days ago.
If you are looking to purchase or sell in today’s or tomorrow’s market, feel free to contact THEbTEAM at your convenience and we can help design a plan tailored to you.
Thank-you for visiting.
Patrick, Jim and Liana.